re-read Tim Collins article from Real Money dated August 8th when MONIF was at .69
That's why I don't subscribe to Real Money. I do subscribe to Jim Cramers Action Alert Plus.
Kass's colleague on RealMoney
(posted from LSE)
Aug 8, 2014 | 10:39 AM EDT
Stock quotes in this article:
MONIF
•Go on. Take a peek.
By Tim Collins
There is a difference between long-term investments and dead money. In truth, many will confuse them often. It's easy to do, but believe me when I say that it is an expensive mistake to make. While dead money may rise from the grave and have some value one day, the opportunity costs missed along the way are something that cannot be recovered.
Monitise (MONIF) looks pretty dead to me. Sure, there is still a pulse, but this thing is a vegetable for the time being. Comatose and too painful for me from a technical side. It took out my stop, and I took the loss on it. A decent bounce never developed for me. Even the return trip to $0.80, which gave me a glimmer of hope, did not last.
So, where do we stand technically? Is there any hope?
Monitise (MONIF) -- Daily
Source: StockCharts.com
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The hope for the long lies in the bullish divergences in the money flow and relative strength indices. They may both be putting in higher lows here, but relative strength is tricky because it has lost a trend line higher while putting in that lower low. A wash to me.
Price action is a disaster. Unless this gets above $0.73, the upside is tough. I won't be interested until we sniff $0.60, or maybe less, but a close over $0.73 may set this up for a long side trade (i.e., a three- to five-day buy, then look to sell around $0.80.
And that 200-day moving average is now nothing more than the Death Star. It's a fantasy many would like to see come true, but price is so far from the realm of reality, it's just a dream for a long time to come.
Spoiler alert: Bulls hoping that I could find something for them in the weekly chart are going to be disappointed. It took only about two months to give away many of the gains seen over 10 months. That may not be the best example of risk happening fast, but certainly a great example of the stairs going up and the elevator on the way down.
